Political Overview
Republicans fared well in the election cycle that preceded the 2015 Florida Legislative Session. Despite a tight race, Republican Governor Rick Scott won re-election as did the other three GOP Cabinet members. Additionally, Republicans...

Beginning in 2013, we have issued a series of Alerts on the controversy regarding the use of captive insurance companies to finance reserves for certain type of life insurance policies (so-called "XXX or AXXX reserves," which are widely believed...

You Must Comply With California Regulations by September 1
Fair Claims Settlement Practices Regulations
All insurers doing business in California must comply with the requirements of California Fair Claims Settlement Practices Regulations (the “Regulations”...

Pet insurance industry to reach $750 million by 2015 as Americans increase spending on veterinary care.
Within California's economy, the pet insurance market is rapidly growing and expected to reach $750 million by next year. AB 2056 (Matt Dababneh...

By Chelsea V. Prince, Associate
The West Virginia Insurance Commissioner recently issued Informational Letter No. 189 which interprets and clarifies those portions of the W.Va. Code of State Rules requiring delay letters during the investigation...

The use by life insurance companies of captive reinsurance companies to finance XXX and AXXX reserves has been a significant and contentious issue in recent years.[1] Some members of the National Association of Insurance Commissioners (the "NAIC"...

California Insurance Commissioner Dave Jones has announced that the community investment policies of the top 206 insurance companies are now available on the California Department of Insurance website.
“I encourage those seeking investments in...

The tectonic plates of insurance regulation are shifting – with reverberations across the industry. The industry is also faced with significant commercial pressures, including a flood of third-party capital; persistent historically low investment...

Insurance agents, brokers and intermediaries may only sell insurance policies if they are licensed by the state. The licensing laws are designed to protect the public against unscrupulous agents and brokers. When the agent, broker or intermediary ignores...

By John Goulios , Biswajit Chatterjee , Daniel Sharma, LL.M. , and Joywin Mathew
The winter session of the India parliament concluded on December 20,2013. Against the backdrop of the slowing growth rate and demands from the investment community...

Fred E. Karlinsky, Richard J. Fidei, Trevor B. Mask, and Benjamin J. Zellner of the law firm of Colodny, Fass, Talenfeld, Karlinsky, Abate & Webb have written an in-depth commentary comprised of a round-up of the ten most important developments in...

The California Department of Insurance has announced that along with other state insurance departments, they have reached a settlement with the Genworth Life Insurance Company over the insurer's use of the Social Security Administration's Death...

Introduction
As the first step in the development of group-wide global insurance capital standards, the International Association of Insurance Supervisors (IAIS) released for public consultation its proposal on basic capital requirements (BCR) for...

On May 20, 2013, the American Law Institute adopted some of the initial sections of its Principles of Liability Insurance. I’ll be honest. When I first heard about the ALI’s Principles Project – essentially a rule book for liability...

On November 5, 2013, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the GSEs) will no longer reimburse their participating servicers for expenses arising out of captive reinsurance arrangements. Captive reinsurance...

On October 9, 2013, the International Association of Insurance Supervisors (IAIS) took a significant step toward developing a first-ever risk-based global insurance capital standard (ICS). The target date for development of the ICS is 2016, with full...

The National Association of Insurance Commissioners ("NAIC") 2013 Summer National Meeting, which was held in late August, saw a continuation of the debate over major insurance regulatory reforms. The first of these reforms involves supervision...

By the Ballard Spahr LLP Insurance and Consumer Financial Services Groups
The Superintendent of the New York State Department of Financial Services (DFS), Benjamin M. Lawsky, has informed his fellow state insurance regulators in the National Association...

Insurance Commissioner Dave Jones announced today that the California Department of Insurance has, with other state insurance regulators, reached a settlement agreement with Aegon over the insurer's use of the Social Security Administration's...

The now iconic song of 1969 aptly describes the insurance regulatory activity we are seeing in the summer of 2013.
During the last two weeks of July, the International Association of Insurance Supervisors (IAIS) announced new standards for regulation...

Conduct exam of a second insurer finds MassMutual using Death Master Database properly
Insurance Commissioner Dave Jones has announced that the California Department of Insurance has, with other state insurance regulators, reached a settlement agreement...

The Financial Stability Board (FSB), tasked by the G-20 to prevent a future financial crisis, on July 18, 2013, designated nine large insurance groups as Global Systemically Important Insurers (G-SIIs), three from the United States—American International...

206 Insurers report data on their supplier diversity efforts
California Insurance Commissioner Dave Jones has announced the results of a first-in-the-nation survey of supplier diversity in the insurance industry. The reports of California’s...

BUSINESS: In FLORIDA, Gov. Scott signs HB 383, which adds the Sunshine State to those that have adopted the Interstate Insurance Product Regulation Compact, which serves as a central point of electronic filing for insurance products like life insurance...